DA Davidson analyst Lucky Schreiner lowered the firm’s price target on GitLab (GTLB) to $24 from $30 and keeps a Neutral rating on the shares. The company reported a solid beat, but worsening growth trends and the conservative guide is leading the firm to reduce its FY27 estimates, the analyst tells investors in a research note. Rumors of potential new competition from OpenAI also sent shares down further after hours, the firm added.
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